Thursday, 16 April 2015

'Needs Work' Three Bedroom Grindon Semi on Corner Plot (6.6% Gross Yield)

This 3 bedroom semi in the ever-popular Grindon area has clearly been most recently lived in by an older person (the decor and accessible shower give this away) but following updating it is bound to be popular with working families


Being a three bedroom property means it will be more popular than the more common two bedroom semis on offer in Grindon and furthermore you'd expect tenants to stay longer (by virtue of the fact they don't outgrow a three bedroom property as quickly as they would a two bedroom property)

I'd advise adding a further £15k on top of the £74,950 asking price, making a total cost of investment of £90,000

Based on this and a conservative £495pcm it will return 6.6% Gross Yield - this may not be the highest Yield on offer but this must be balanced by the chance of longer tenancies and the fact that in spending £15k to improve the property you'd hope to build in an element of capital growth in excess of this spend that you may not get elsewhere

Click here for details http://www.zoopla.co.uk/for-sale/details/36522498

Call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information 

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